Anthropic’s blockbuster IPO just got harder after Jensen Huang’s dramatic exit as Nvidia CEO
Speaking shortly before Huang’s departure but after reports that he was likely to be leaving the company, Goldberg warned that turmoil at Nvidia, including the loss of its CEO, would create a headwind for Anthropic when it reports its first quarterly results.
Key points
- They haven’t spent that much money.” Anthropic is also less dependent on Nvidia than some of its rivals, running some models on Google’s TPUs, Amazon’s Trainium chips, and AMD’s GPUs, as well as Nvidia’s hardware.
- He said he expected there to be “much closer scrutiny of [Anthropic’s] ties to Nvidia and customers associated with Nvidia.” For Silicon Valley, Anthropic and competitor OpenAI have needed so much capital that almost every venture capital firm in town owns a piece of them—making them the private market equivalent of an index fund.
- Anthropic CEO Dario Amodei has long pushed for tighter controls on chip exports to China, putting him at odds with Huang.
Nvidia’s longtime CEO and co-founder Jensen Huang resigned from the company on Thursday following reports alleging he had engaged in two extramarital affairs: one with a customer suspected by U.S.
Additional details
- Investors and analysts told Fortune that while they don’t expect the Nvidia shock to affect Anthropic’s core business, it could cause problems for the broader AI story.
- “It’s such a massive IPO and there’s so many people behind it now that they don’t pull the IPO.” The bigger risk, he said, comes once Anthropic is a public company.
- The AI lab is expected to list on Wednesday or Thursday next week, days after Nvidia reports quarterly earnings—the company’s first-ever without Huang at the helm.
- The two companies are also closely tied commercially, with Anthropic committing to tens of billions of dollars to secure access to Nvidia’s most advanced chips.
- That makes Anthropic’s expected IPO next week a high-stakes liquidity event—not only for the more than 400 backers of Anthropic, but for the AI boom as a whole.
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